Counseling Therapy Services Segment to Lead Market between 2021 and 2028
According to our new research study on "Behavioral Rehabilitation Market Forecast to 2028 – COVID-19 Impact and Analysis – by Treatment, Application, and Healthcare Setting," the market is expected to reach US$ 540.84 million by 2028 from US$ 350.63 million in 2021; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028. The report highlights trends prevailing in the market and factors driving its growth. The increase in the prevalence of behavioral disorders, easy availability of behavioral rehabilitation therapies, and rise in the number of product launches are driving the market. However, the stigma attached to behavioral disorders hampers market growth.
Based on treatment, the behavioral rehabilitation market is segmented into drugs, counseling therapy services. The counseling therapy services segment held the largest market share in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. Counseling therapy is the process of meeting with a therapist to resolve problematic behaviors, feelings, beliefs, relationship issues, and/or somatic responses. Beginning therapy can be a significant step toward being the healthiest version of oneself and enjoying the most significant life possible, regardless of the obstacles one is facing. Self-destructive behaviors and habits can be changed; painful feelings can be resolved, and relationships can be improved.
Impact of COVID-19 Pandemic on Behavioral Rehabilitation Market
The global economies are severely affected due to the exponential growth of COVID-19 cases in the region. The COVID-19 pandemic is expected to impact the market negatively. The COVID-19 pandemic and the subsequent economic downturn have detrimental effects on people's mental wellness and built new barriers for those who already have a mental illness or behavioral disorders. For instance, about 4 in 10 adults in the US have reported anxiety or depressive disorder signs during the pandemic. This number has remained mostly steady, up from 1 in 10 adults who had related symptoms from January to June 2019. According to the KFF Health Tracking Poll from July 2020, various adults reported specific adverse effects on their mental health and well-being as a result of worry and stress about COVID-19, such as difficulty sleeping about 36%, eating about 32%, increasing alcohol consumption or substance use about 12%, and others.
Springstone, Inc.; American Addiction Centers; Acadia Healthcare, Universal Health Services, Inc.; Magellan Health, Inc.; Haven Behavioral Healthcare, Inc.; Psychsolutions, Inc.; BHG Holdings, LLC.; Aurora Behavioral Health System; and Baxter Regional Medical Center are among the leading companies operating in the behavioral rehabilitation market.
The report segments the behavioral rehabilitation market as follows:
The behavioral rehabilitation market is segmented based on treatment, application, and healthcare setting. Based on treatment, the market is segmented into drugs, counseling and therapy services. Based on application, the behavioral rehabilitation market is segmented into anxiety disorders, mood disorders, substance abuse disorders, personality disorders, and attention deficit disorders. Based on the healthcare setting, the market is segmented into outpatient behavioral rehabilitation, inpatient behavioral rehabilitation, and residential behavioral rehabilitation. By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).
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